TSMC Reports Third Quarter EPS of NT$1.26

Consolidated net sales were NT$82.48 billion in the third quarter of 2006, up 0.4% from NT$82.12 billion in the previous quarter, mainly driven by increased demand in communication and consumer related applications.

On a sequential basis, revenues from consumer and communication applications both increased by 2%, while revenues from computer applications declined by 6%.

Revenues from advanced technologies (0.13-micron and below) and 90nm accounted for 49% and 24% of total wafer sales, respectively, flat from the previous quarter.

Revenues from IDM customers accounted for 29% of total wafer sales during the quarter, up slightly from 28% in the previous quarter.

Geographically, revenues from North America accounted for 78% of total wafer sales. Meanwhile, sales from Asia Pacific, Europe and Japan accounted for 10%, 8% and 4% of wafer sales, respectively.

    II. Capacity



    II. Capacity
    Fab / (Wafer size)          1Q06   2Q06    3Q06   4Q06   2006
                                 (A)    (A)   (Est.) (Est.) (Est.)

    Fab-2  (6") (Note 1)          244    258    258    266  1,025
    Fab-3  (8")                   246    252    262    258  1,021
    Fab-5  (8")                   135    138    147    153    573
    Fab-6  (8")                   215    222    233    248    918
    Fab-7  (8")                    33     23      4      0     60
    Fab-8  (8")                   231    233    234    248    946
    Fab-12 (12") (Note 2)         142    150    157    166    616
    Fab-14 (12") (Note 2)          61     66     86    105    318
    WaferTech      (8")            99    100    101    104    404
    TSMC (Shanghai)(8")            48     52     73     90    262
    TSMC total capacity
     (8" equiv.Kpcs)            1,602  1,650  1,748  1,860  6,860
    SSMC (8")                      49     50     51     52    202
    Total managed capacity
     (8" equiv.Kpcs)            1,651  1,700  1,799  1,912  7,062

    Note: 1. Figures represent number of 6" wafers.  Conversion to
             8"-equivalent wafers is by dividing this number by 1.78
          2. Figures represent number of 12" wafers.  Conversion to
             8"-equivalent wafers is by multiplying this number by 2.25



    Capacity:

Total TSMC managed capacity in 3Q06 was 1,799K 8-inch equivalent wafers, 5.8% higher than the 1,700K 8-inch equivalent wafers in 2Q06.

TSMC managed capacity in 4Q06 will increase by 6.3% sequentially to reach 1,912K 8-inch equivalent wafers.

Overall installed capacity for year 2006 is expected to be approximately 7,062K 8-inch equivalent wafers, unchanged from our previous forecast provided in July 2006.

    III. Consolidated Profit & Expense Analysis



    III - 1. Consolidated Gross Profit Analysis

    (Amount: NT$ billion)     3Q06        2Q06        3Q05

    COGS                      41.3        39.6        39.5
    Depreciation              16.8        16.5        17.2
    Other MFG Cost            24.5        23.1        22.3

    Gross Profit              41.1        42.5        31.0

    Gross Margin              49.9%       51.8%       43.9%



    Consolidated Gross Profit Analysis:

Consolidated gross profit for the third quarter of 2006 was NT$41.1 billion, representing a year-over-year increase of 32.9% and a sequential decline of 3.2%. Consolidated gross margin declined by 1.9 percentage points sequentially to 49.9%, largely due to lower capacity utilization.



    III - 2. Consolidated Operating Expenses

    (Amount: NT$ billion)     3Q06        2Q06        3Q05

    Total Operating Exp.      7.50        7.18        6.78
    SG&A                      3.27        3.13        3.31
    Research & Development    4.23        4.05        3.47



    Consolidated Operating Expenses:

Consolidated operating expenses for 3Q06 were NT$7.5 billion, slightly higher than the previous quarter. Higher R&D expenditures were mainly due to increased expenditures on 45nm and 65nm projects. The increase in SG&A expenditures was primarily the result of Fab 14 Phase II opening expenses. Total operating expenses represented 9.1% of net sales, compared to 8.8% for the previous quarter.



    III - 3. Consolidated Non-Operating Items

    (Amount: NT$ million)            3Q06         2Q06        3Q05

    Non-Operating Income/(Exp.)       322         299          19
       Net Interest Income/(Exp.)     923                 924                  280
              Other  Non-Operating                      (601)              (625)              (261)
        L-T  Investments                                      709                  650                  271
              SSMC                                                      403                  471                  210
              Others                                                  306                  179                    61

        Total  Non-Operating  Items              1,031                  949                  290



        Consolidated  Non-Operating  Items: 


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